Illustrative image (Source: VNA) Hanoi (VNA) - Analysts from real estate consultantsSavills Vietnam have advised investors to focus more on new urban areas inHanoi, especially those with convenient infrastructure networks.
The city’s planned eight metro lines connecting thedowntown area with outlying districts make the latter well worth considering, theytold an online conference on September 3 updating businesses on market developmentsand opportunities for investment in major projects in Hanoi.
The housing market has suffered a short-term fall indemand due to COVID-19, but with the completion of infrastructure projects and thepromise of profit, new housing projects boasting large numbers of apartmentshave been introduced.
According to Nguyen Duc Thiem, Savills’ sales manager inHanoi, in the first half of this year some 29,400 apartments entered themarket, of which more than 5,400 were sold, or about 19 percent.
Supply primarily came from seven projects, with pricesrising slightly to 1,460 USD per square metre, he said.
Meanwhile, the housing market in Vietnam as a whole stillboasts potential due to high demand, as the country’s population is predictedto reach 120 million by 2050 with an urbanisation rate of 57 percent.
Over the remaining two quarters of the year, SavillsVietnam predicts that about 24,200 apartments from four existing and 18 plannedprojects in Hanoi will be introduced to the market. Of these, 68 percent are underconstruction.
North Tu Liem, South Tu Liem, Gia Lam, and Hoang Mai districtsare home to most of these projects.
Savills also noted that with Vietnam’s experience incontrolling COVID-19, the country’s real estate sector will not be seriouslyaffected./.
VNA
